NAPCO generates revenue of OMR 18.5 million in 2015 with 37 per cent increase from 2014

2015-11-08

National Aluminium Products Company SAOG (NAPCO), one of the leading extruders of aluminium profiles in the GCC, has announced a robust performance for the third quarter of 2015, achieving a remarkable growth in volume in the domestic market as well as in exports. It has reported revenues of OMR 18.5 million during the first nine months of 2015, compared to OMR 13.5 million during the same period for 2014, representing an increase of 37 per cent.

In addition, NAPCO has gained a net profit of OMR 0.582 million, an increase of 20 per cent, as of September 30, 2015 as compared to OMR 0.486 million during the same period of the previous year. The figures were revealed during the company’s recent meeting of the Board of Directors held at the NAPCO headquarters.

Robert Holtkamp, CEO, NAPCO, said: “NAPCO has registered outstanding financial results for the first nine months of 2015 due to our progressive business strategies and aggressive marketing plans designed keeping in mind the sharp decline in oil prices and the slowdown of the global economy. We focused our efforts to increase our market share and mitigate market risks through our branding activities that helped in creating greater visibility in a highly competitive market. The GCC is bullish in its economic growth because of continued infrastructure development that has created opportunities for key players such as NAPCO. We remain optimistic about our growth in the near future because of our high-quality products, better customer service, and quicker delivery periods.”

NAPCO has been part of several landmark projects in Oman and the rest of the region. Its current portfolio in Dubai includes Citywalk, an upcoming retail destination on the junction of Al Wasl and Safa Roads; Onyx Tower, a 3-tower commercial project close to Emaar Business Park on Sheikh Zayed Road; and Dubai Design District (d3), an ambitious and innovative purpose-built destination for creatives. In addition, it is working on Abu Dhabi Plaza, a mixed-use development underway in Astana, Kazakhstan. NAPCO’s long list of developments comprise the Supreme Court in Muscat, Salalah Airport, the Dubai International Airport Expansion (UAE), the Burj Khalifa (UAE), and the Al Rayyan Complex (UAE), to name a few.

[B1]The GCC economies have started to diversify their economy and not simply rely on income received from the oil & gas sector.